Thursday's Afternoon Update

What you need to know about Florida today

| 5/15/2014

Fewest Americans in 7 years seek unemployment aid

The number of people seeking U.S. unemployment benefits fell to the lowest level in seven years last week, a sign the job market is steadily improving. Weekly unemployment benefit applications dropped 24,000 to 297,000, the Labor Department said Thursday. That's the fewest since May 12, 2007. More at the AP.

USTA to build new home for American tennis

The United States Tennis Association is pinning a big chunk of its future on central Florida. On Wednesday, the non-profit governing body announced a project estimated at nearly $60 million in Orlando billed as the new home for American tennis for its 750,000 members. More at USA Today and see the release from Gov. Rick Scott's office.

Foreclosures decline in Florida

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Panama City has big plans for its marina property

After a lengthy standstill, downtown Panama City in Florida’s panhandle is finally on its way toward a transformation that city officials hope will lure private enterprise and boost the local economy.

New foreclosure cases are down across South Florida and the Sunshine State as the housing market continues to shed distressed mortgages. Even with fewer filings, Florida had the nation's highest foreclosure rate in April — one in 400 homes. More at the South Florida Sun-Sentinel.

Stone crab season nears end in Florida

Stone crab harvests in southwest Florida appear to be the highlight of an otherwise dismal season. The state's stone crab season ends at midnight Thursday. An estimated 1.7 million pounds of stone crab claws have been harvested statewide this season, down from 2.7 million pounds last year. More at the AP.

French firm buying big Eaton plant in Manatee

Eaton Corp. has sold its massive plant on Whitfield Avenue to a French defense and aerospace contractor for $4.15 million, records show. The sale is part of a deal by Eaton to sell its Aerospace Power Distribution Management Solutions and Integrated Cockpit Solutions business to Safran for $270 million. More at the Sarasota Herald-Tribune.

Hurricane Season As hurricane season nears, rethinking risk

With the start of the annual hurricane season little more than two weeks away, the head of the National Hurricane Center said Wednesday that Floridians should focus less on storm season predictions and hurricane categories, and more on the individual hazards they could encounter from any storm.